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All About Project Management Methodology

By Frank Jones

More corporations nowadays use project management methodology to keep their operations efficient and organized. This method of handling new ventures typically involves a group of employees from various departments working on a single goal. This way of supervision regarding new missions has been developed over 50 years and has become more efficient today.

For a team to work on a task efficiently, they need to follow a proven system. This method of running a venture usually involves coordinating with other workers from different company departments. A team can be formed using talent from various business fields. A supervisor is needed to oversee the group to make sure that the venture is completed.

Managerial techniques will be applied to make sure that the mission is executed smoothly. Methods applied for years will be implemented and tools will be used to measure how the team improves and develops throughout the venture. Five stages are often exploited to make sure that assignments are completed. These phases include the initial, design and plan, implementation, monitor and control phase, and the last part which involves closing the mission.

The Initiation stage defines how a project starts, beginning with an idea and a general outcome of how you want the venture to end. Begin with determining the nature of the mission. The scope of the project must be defined clearly so that employees will know their objectives and boundaries. Goals and a timeline should be set at this stage and issues about risks should also be discussed before moving further.

The Design and Planning stage will include more details such as costs, resources and a more specific time frame for various tasks needed to complete the plan. Risks and work load can be estimated at this point. This is when an appropriate team can be formed and where the scope, budget and schedule can be defined more clearly which have been previously outlined in the Initial stage.

After thorough planning, it will be time to implement the plan. The Execution stage will comprise of applying the procedures to complete the given tasks. All the discussions made in previous steps will be performed at this time. Resources and team members will be put to work and used to perform activities needed to complete the mission. Certain amounts of output are expected in this phase.

Monitoring and control are the next steps in managing a venture. This is where the progress of the mission is studied. Team leaders should assess if the progress is up to par or lagging behind schedule. When issues are identified, the team together with the supervisor should address the problems and solve it to prevent delays. A manager should also monitor the cash flow.

In every project management methodology, there needs to be a Closing. At the planning stage a termination date should have been defined. When it is time to wrap up the mission, all activities in various departments need to cease, otherwise funds will continue to be spent. A project report will determine if all goals were accomplished. A final financial study should also determine if the venture was completed within the budget.

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Article Citation
MLA Style Citation:
Jones, Frank "All About Project Management Methodology." All About Project Management Methodology. 18 Oct. 2012. uberarticles.com. 18 Nov 2014 <http://uberarticles.com/business/all-about-project-management-methodology/>.

APA Style Citation:
Jones, F (2012, October 18). All About Project Management Methodology. Retrieved November 18, 2014, from http://uberarticles.com/business/all-about-project-management-methodology/

Chicago Style Citation:
Jones, Frank "All About Project Management Methodology" uberarticles.com. http://uberarticles.com/business/all-about-project-management-methodology/


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